A Peek Into The Market Before The Trading Starts

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Pre-open movers
US stock futures gained in the pre-market, after Apple
AAPL
reported strong Q3 results yesterday. Futures for the Dow Jones Industrial Average surged 29 points to 15,542.00, while the Standard & Poor's 500 index futures rose 4.60 points to 1,692.90. Futures for the Nasdaq 100 index also gained 26.50 points to 3,052.50.
A Peek Into Global Markets
European markets were higher after upbeat PMI data. The Spanish Ibex Index gained 1.05%, London's FTSE 100 index jumped 0.87%, STOXX Europe 600 Index surged 0.77%, German DAX 30 index rose 0.90% and French CAC 40 Index climbed 1.08%. Asian markets ended mostly lower, with China's Shanghai Composite dropping 0.52%, Japan's Nikkei Stock Average falling 0.32% and Australia's ASX/S&P500 rising 0.34%. India's Sensex tumbled 1.04% and Hong Kong's Heng Seng Index rose 0.24%. The Chinese Flash HSBC Manufacturing PMI declined to 47.7 for the first half of July, versus the reading of 48.2 in June.
Broker Recommendation
Analysts at Goldman Sachs upgraded TD Ameritrade Holding
AMTD
from “sell” to “neutral.” The target price for TD Ameritrade Holding has been raised from $19 to $27. TD Ameritrade's shares closed at $27.20 yesterday.
Breaking news
  • WellPoint WLP reported a 24% increase in its second-quarter profit. WellPoint's quarterly profit surged to $800.1 million, or $2.64 per share, from $643.6 million, or $1.94 per share, in the year-earlier quarter. To read the full news, click here.
  • Maidenform MFB announced that it has entered into a definitive agreement with HanesBrands HBI pursuant to which Hanes will acquire all of the outstanding shares of Maidenform for $23.50 per share in cash. To read the full news, click here.
  • Sarepta Therapeutics SRPT announced its plans to submit a New Drug Application (NDA) to the U.S. Food and Drug Administration (FDA) in the first half of 2014 for the approval of eteplirsen for the treatment of Duchenne muscular dystrophy (DMD). To read the full news, click here.
  • Eli Lilly & Co LLY reported a 31% rise in its second-quarter earnings and lifted its full-year adjusted earnings forecast. Eli Lilly's quarterly profit surged to $1.21 billion, or $1.11 per share, from $923.6 million, or $0.83 per share, in the year-ago period. To read the full news, click here.
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Posted In: NewsFuturesGlobalPre-Market OutlookMarketsGoldman SachsUS Stock Futures
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